A tax certificate is a tax lien on property created by payment of the taxes due. It is not a purchase of the property.
Tax Certificate means a legal document, representing unpaid delinquent real property taxes, non-advalorem assessments, including special assessments, interest, and related costs and charges, issued in accordance with Chapter 197, Florida Statutes, against a specific parcel of real property and becoming a first lien thereon, superior to all other liens, except liens, restrictions and covenants surviving or protected as provided by Section 197.573(2)FS. Tax Certificates bear interest at the maximum rate allowed by law (18%) unless the bidder specifies a lower rate. The highest rate that can be bid is 18% and the lowest is 0%.
